The Real Estate Chronicle 
June 2016 Edition
 
Steven Thomson
(203) 247-6765 

"The Best Move You
Can Make"

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2015

Top 6% of approximately 87,000 Coldwell Banker sales associates worldwide

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Connecticut Magazine 2012,2013, 2014, 2015 
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June activity remains steady; that being said the data points on my market action reports are much more optimistic than what we are feeling in the streets.
 
New properties continue to come to market, with the approaching summer days ahead, in hopes of receiving accepted offers before the next school season.
 
Buyers remain very picky, patiently rejecting properties not renovated or updated, further solidifying the current trend where the buyers want "turnkey ready". No work please!
 
The inventory levels remain very high in our area unlike the national data. Buyers who are open to renovation projects or updating have many choices today and quite a few value propositions. We are still seeing the in-town and beach properties in demand.
 
We are seeing prices continue to reset in specific price categories; the high end is much quieter than we have experienced in some time. The entry level prices are still selling well whereas the middle of the market is becoming more negotiable. 
 
Market activity so far this year is as follows: Sales (SF) May 2016 YTD vs. 2015 were up in Westport (+13.9%), down in Weston (-15.1%), equal in Wilton, down in Fairfield (-3.4%), up in Norwalk (+7.7%). 
      
Average Sales Price May 2016 YTD vs. 2015 was down in Westport (-8.8%), Weston (-8.8%), up in Wilton (+3%), down in Fairfield (-2.8%), Norwalk (-1.0%).      
See my comprehensive market action reports for sales, pricing, time on market and trends over the past two years .  
 
Freddie Mac today released the results of its Primary Mortgage Market Survey, showing average fixed mortgage rates largely unchanged from the week before. The 30 year fixed rate is averaging 3.56%, a year ago at this time, it was 4.02%. 
 
I am here to advise and inform you of the local market and answer any questions you may have. Don't hesitate to get in touch. 
 
Steven 

My Featured Listing
 

A Bountiful Life on the Shore!
 
2 Canfield Crossing, Norwalk, CT 

Open House: Sunday, June 26th, 2pm - 4pm 
 
Canfield Crossing, exclusive gated enclave of luxury shorefront homes on private peninsula. Every window showcases a view & creates a connection to the water. This shingle style waterfront home replete with elevator, pool & spa is perfect for entertaining & a casual lifestyle focused on waterfront activities and pure relaxation. Enjoy boating, sailing, kayaking, fishing and bird watching.

Masterfully built home with artisan craftsmanship and finishing.
A cook's kitchen is superbly appointed. Master suite offers spectacular views from its balcony along w/ hotel amenities. All bedrooms are ensuite.
Finished lower level w/ stone fireplace. Classic yet current finishes and fixtures.

An oasis of privacy and natural beauty.


Home and Real Estate Topics
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You won't always know who your buyer is going to be when listing a home for sale. But, with many homes, you have a good idea of the general target group. While many homes for sale attempt to appeal to the largest number of buyers, niche staging may actually get a home sold sooner.
 
 
In 2015, the share of new single-family homes sold that had at least four bedrooms and at least three bathrooms hit a more than three-decade high. And one expert suggests this bedroom and bathroom trend is being driven by a fundamental change in American living arrangements.


If you're in the process of buying a house or are getting ready to, you may be overwhelmed by all the possibilities - and all the details. It can be easy to lose sight of some of the things that are important to you when you're seduced by pretty countertops or kids playing out on the street. Making a checklist of those must-haves will help keep you on track.

 


Monthly Market Action Reports

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Looking for market data for your town? 
 
Property sales, price trends, inventory, months supply of inventory, selling price per square foot, selling price vs. listing price ratio.
 
Westport   Weston    Wilton   Fairfield    Norwalk
 


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Westport, Connecticut 06880

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